Greggs PLC (LSE:GRG)
£ 28.82 -0.2 (-0.69%) Market Cap: 2.92 Bil Enterprise Value: 3.05 Bil PE Ratio: 20.57 PB Ratio: 5.47 GF Score: 95/100
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Q4 2018 Greggs PLC Earnings Call Transcript

Mar 07, 2019 / NTS GMT
Release Date Price: £18 (-0.61%)
Roger Whiteside
Greggs plc - CEO & Director

Good morning, everybody. Thank you for joining us this morning. We're going to follow the usual format, for those of you who've been before. So in a moment, I'll hand over to Richard, who will take us through the financial results in more detail. Then, I'll do the strategic progress update, as we normally do, before we then go on to talk about current trading and taking questions as usual.

So just before I get -- hand over to Richard, the highlights. 2018 was -- proved a testing year for us. It tested the resilience of the model and showed that all of the investments we've been making over the past few years are starting to pay dividends.

The first half was very significantly impacted, as you know, by the weather. But despite that, the fact that we've been investing in food-on-the-go, the customer experience, new shop locations and everything else that we've been up to, that we managed to maintain positive sales even through that period and then have a very much stronger second half.

So total sales were up 7.2%. We broke through the

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